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Acadian Asset Management LLC Has $1.29 Million Stock Position in SEI Investments (NASDAQ:SEIC)

Acadian Asset Management LLC cut its stake in SEI Investments (NASDAQ:SEICGet Rating) by 68.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,481 shares of the asset manager’s stock after selling 46,676 shares during the quarter. Acadian Asset Management LLC’s holdings in SEI Investments were worth $1,291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp increased its stake in shares of SEI Investments by 0.6% in the 4th quarter. State Street Corp now owns 5,690,615 shares of the asset manager’s stock valued at $349,030,000 after acquiring an additional 35,910 shares during the last quarter. Beutel Goodman & Co Ltd. increased its stake in shares of SEI Investments by 34.3% in the 1st quarter. Beutel Goodman & Co Ltd. now owns 3,792,881 shares of the asset manager’s stock valued at $228,369,000 after acquiring an additional 968,459 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of SEI Investments by 7.9% in the 4th quarter. Geode Capital Management LLC now owns 1,943,809 shares of the asset manager’s stock valued at $118,418,000 after acquiring an additional 141,772 shares during the last quarter. Royce & Associates LP grew its position in shares of SEI Investments by 0.6% in the 1st quarter. Royce & Associates LP now owns 1,387,594 shares of the asset manager’s stock valued at $83,547,000 after purchasing an additional 8,286 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of SEI Investments by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,229,388 shares of the asset manager’s stock valued at $74,021,000 after purchasing an additional 31,845 shares during the period. 70.50% of the stock is owned by institutional investors.

SEI Investments Stock Up 0.6 %

Shares of SEI Investments stock opened at $54.19 on Wednesday. SEI Investments has a 12-month low of $51.07 and a 12-month high of $65.22. The stock has a market cap of $7.34 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.21 and a beta of 0.98. The business’s 50 day moving average is $55.10 and its 200-day moving average is $56.50.

SEI Investments (NASDAQ:SEICGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The asset manager reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). SEI Investments had a return on equity of 30.81% and a net margin of 28.53%. The company had revenue of $481.67 million for the quarter, compared to the consensus estimate of $472.18 million. During the same quarter in the prior year, the company earned $0.93 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, sell-side analysts expect that SEI Investments will post 3.71 EPS for the current year.

SEI Investments declared that its board has authorized a stock repurchase program on Wednesday, June 1st that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SEIC shares. StockNews.com lowered SEI Investments from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. William Blair reiterated a “mkt perform” rating on shares of SEI Investments in a research report on Monday, July 25th. The Goldman Sachs Group decreased their price objective on SEI Investments to $58.00 in a research report on Friday, July 22nd. Morgan Stanley decreased their price objective on SEI Investments from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Thursday, July 21st. Finally, Piper Sandler reduced their price target on SEI Investments to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $60.50.

Insider Transactions at SEI Investments

In other news, EVP Wayne Withrow sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $55.78, for a total transaction of $836,700.00. Following the sale, the executive vice president now owns 38,799 shares in the company, valued at approximately $2,164,208.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Wayne Withrow sold 15,000 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $55.78, for a total value of $836,700.00. Following the sale, the executive vice president now owns 38,799 shares in the company, valued at approximately $2,164,208.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dennis Mcgonigle sold 35,000 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $55.15, for a total value of $1,930,250.00. Following the completion of the sale, the insider now owns 576,663 shares in the company, valued at approximately $31,802,964.45. The disclosure for this sale can be found here. Company insiders own 25.40% of the company’s stock.

SEI Investments Profile

(Get Rating)

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.

See Also

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